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Relativity Media(Wikipedia)
Relativity Media (Stylized as RelativityMedia since 2015 and sometimes as Relativity) is a global media company located in Easley, South Carolina. Founded in 2004 by Ryan Kavanaugh, the studio is the third largest mini-major film studio in the world. and its the flagship service of Relativity Media , Inc. Its full scale film studio acquires, develops, produces and distributes films, and produces television programs. The company's partners and financial institutions have invested $20 billion as of 2012 in entertainment investments with partners such as Citibank, Merrill Lynch, Deutsche Bank and others. Relativity Media also works in fashion, sports, digital and music On July 30, 2015, the company filed for Chapter 11 bankruptcy after lawsuits and missing loan payments.However, the studio plans to go through with the release of Kidnap and Masterminds And the studio was sold to 21st Century Friday on September 13, 2015. History The studio was founded by Ryan Kavanaugh and Lynwood Spinks in 2004 as a middleman company arranging multi-film slate deals with studios then arranging financial support through banks. Relativity Media would receive film equity, producer's credit and a fee. Initially, Stark Investments, a Wisconsin-based hedge fund, funded the company's single-picture business. By 2007, these investors stopped making movie-finance deals. Elliott Management, a $16 billion New York–based hedge fund run by Paul Singer, then took a minority share of the company plus access to around $1 billion in capital and a revolving credit line.7 Investments and partnershipsedit On January 4, 2009, the studio acquired the genre label Rogue from Universal, for $150 million.8 Relativity oversaw Rogue’s 2009 film offerings, which consisted of Last House On The Left, The Unborn, Come Out Fighting, and My Soul to Take, as well as more than 30 projects in development. The deal also included the Rogue film library, featuring such films as Assault On Precinct 13 and The Strangers.910 On August 14, 2011, it was reported that Relativity was investing in SkyLand Film & Television Cultural Development Ltd, a China-based production company, signaling new opportunities in the Chinese market. One of the first arrangements was that the movie 21 and Over was partially filmed in Dongshigu, China.11 On May 18, 2012, it was reported that Relativity was in talks to buy German producer-distributor Senator Entertainment.12 In 2010, Relativity Media ventured into India with the help of Asian billionaire Keyur Patel who also owns two major TV Networks and has major investments in India in satellite, theatre chain and media productions.13 On July 6, 2010, Relativity and Netflix announced a five-year-plus Pay-TV deal. The first two films to stream on Netflix were The Fighter and Skyline.14 On July 23, 2010, Relativity acquired the 45-person marketing and distribution staff of Starz’ Overture Films, making it a "Mini-Major".15 The studio distributed its first film on December 3, 2010. The Warrior's Way was directed by Sngmoo Lee and starring Jang Dong-gun, Geoffrey Rush and Kate Bosworth. On May 20, 2012, it was reported that Relativity and EuropaCorp signed a co-production and co-financing deal on two movies and Relativity will distribute in U.S.1617 Relativity also has co-production deals with Atlas Entertainment and Virgin Produced.needed In September 2011, Robbie Brenner was promoted from Executive Vice President, Production to President, Production.18 On November 27, 2011 it was reported Ron Burkle loaned $200 million to Relativity for Immortals and Mirror Mirror.19 On January 23, 2012, Burkle purchased a large equity stake in Relativity Media from Elliot Capital Management (which was the second largest shareholder after Ryan Kavanaugh) for at least $800 million.2021 On May 31, 2012 Relativity and Ron Burkle announced they raised $350 million in funding for films and expansion. Ron Burkle will also join the board of Relativity, along with Jason Colodne and Jason Beckman who are partners at Colbeck Capital.2223 In July 2012, Relativity merged its Rogue Sports, a basketball agency with Maximum Sports Management, a football agency, and SFX Baseball into Relativity Sports.24 On December 19, Relativity announced a new division 'Relativity International'.25